2G Energy AG boosts order intake by 26% in 1st quarter

• Orders reach EUR 51.7 million (previous year: EUR 41.0 million)
• US market overcomes caution and shows significant growth (EUR 10.1 million; previous year: EUR 2.6 million)
• 2G sells its first CHP/heat pump combination in Germany
• Management and Supervisory boards propose a dividend increase of 21% to EUR 0.17 per share

Heek, April 18, 2024 - 2G Energy AG (ISIN DE000A0HL8N9), one of the world’s leading manufacturers of combined heat and power (CHP) systems and a producer of heat pumps, maintained its high growth trajectory in the first quarter of 2024. In the first three months, 2G boosted its order intake by 26%, winning orders for new systems in an amount of EUR 51.7 million (previous year: EUR 41.0 million). A total of EUR 1.9 million was attributable to the heat pump business.

US market overcomes caution and posts significant growth

In the US market, the Inflation Reduction Act (IRA) is now leading to increased orders after 2G had used the previous months together with its customers and project partners to work on numerous projects in line with IRA requirements. In the first quarter, orders worth EUR 10.1 million were recorded, which represents an almost fourfold increase compared to the previous year (EUR 2.6 million). 2G continues to anticipate an increase in new order intake in the USA in the coming quarters.

The order intake in the last quarter breaks down as follows:

2G sells its first CHP systems combined with heat pumps in Germany

At the start of April, 2G won its first order for delivery of a combined system consisting of a 2G CHP and a 2G heat pump. This combination will supply an existing local heating network consisting of around 250 rural consumers including garden centers, agricultural companies, restaurants, industry and private households. The CHP’s electrical output of 1,560 kW significantly exceeds the heat pump’s total electrical power consumption of 312 kW with the result that the operator will be able to meet its heat supply obligations reliably and economically at all times, while at the same time tapping attractive potential for the supply of base and peak loads in high price periods on the electricity exchange.   

Dividend of EUR 0.17 per share proposed

Based on the net profit of EUR 13.6 million generated in the 2023 fiscal year, the Management and Supervisory boards have decided to propose to the AGM on June 4, 2024 a dividend of 17 cents per share for the past financial year, 21% higher than in the previous year.

Annual Report 2023 now available for download

The audited consolidated financial statements, the 2023 annual report and a multi-year overview of key figures are available for download in German and English at https://2-g.com/en/investor-relations/financial-publications.

2G company portrait
The 2G Energy AG Group is an internationally leading manufacturer and system provider of decentralized energy supply systems. The company develops, produces and installs comprehensive solutions in the growing market for highly efficient CHPs and large heat pumps. Digital grid integration and plant control for both types of energy generators, as well as service and maintenance, are further decisive performance criteria.

The product portfolio includes CHP plants in the output range from 20 kW to 4,500 kW for operation with hydrogen, natural gas, biogas and other lean gases, as well as large heat pumps in the range from 100 kW to 2,6000 kW. CHP plants operate with efficiencies of 90 percent and more, while large heat pumps achieve efficiencies of 300 to 500 percent, depending on the general conditions. With its products and services, 2G is at the interface to a decentralized, secure and largely decarbonized energy supply. More than 8,000 2G systems have already been installed worldwide in various applications, supplying electrical and thermal energy to a wide range of customers from the housing industry, agriculture, commercial and industrial companies, energy suppliers, municipal utilities and local government authorities.

2G is positioned worldwide as a system provider for decentralized energy solutions with its combination of CHP plants and large heat pumps. The company benefits from far-reaching synergies of both plant categories, ranging from project development, procurement, and production to the largely identical customer base and regulatory framework as well as sales channels and digital control and service.

2G is consistently expanding its technological leadership through continuous research and development work, both in power plant and pump technologies as well as in specific software development for service and maintenance activities. The digital grid integration consistently implemented by 2G is an indispensable, system-relevant element in the future electricity market design and represents a high market entry hurdle for competitors. The sector coupling required for the success of the energy transition is reflected in 2G's portfolio.

2G employs more than 900 employees at its headquarters in Heek, Germany, in North America, as well as at five other European locations. The company is active in more than 50 countries and generated net sales of EUR 312.6 million in the 2022 financial year. 2G was founded in 1995 and has been listed on the capital market since 2007. The shares of 2G Energy (ISIN DE000A0HL8N9) are listed in the “Scale” segment of the Frankfurt Stock Exchange.

Calendar 2024
April 18   Consolidated financial statements for FY 2023
April 23   Quirin Champions Conference, Frankfurt am Main
April 24   Metzler MicroCap Conference, Frankfurt am Main
May 13-14   Spring Conference, Frankfurt
May 23   Q1 key figures and business trends
June 4   Ordinary AGM, Ahaus/Germany
June 6   Warburg Highlights Conference, Hamburg
September 5  Consolidated financial statements for H1 2024
November 25  Q3 key figures and business trends
November 25-27  German Equity Forum, Frankfurt

IR contact
2G Energy AG
Benzstrasse 3, 48619 Heek
Phone: +49 (0) 2568 93 47-2795
Fax: +49 (0) 2568 93 47-15
Email: ir@2-g.de
Internet: www.2-g.de